The maximum financial redress the Financial Services & Pensions Ombudsman can award in respect of a complaint against a pension provider is:

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Multiple Choice

The maximum financial redress the Financial Services & Pensions Ombudsman can award in respect of a complaint against a pension provider is:

Explanation:
The main idea is that the Ombudsman aims to put you back in the position you would have been in if the fault hadn’t happened, and for a pension complaint that means compensating the actual financial loss in benefits under that pension scheme. The remedy is limited to the value of the lost or reduced pension benefits; there isn’t a fixed cap or a multiple of the loss. So the maximum redress is exactly the actual loss of benefit under the scheme concerned. The other options imply fixed monetary caps or multiples, which do not apply here.

The main idea is that the Ombudsman aims to put you back in the position you would have been in if the fault hadn’t happened, and for a pension complaint that means compensating the actual financial loss in benefits under that pension scheme. The remedy is limited to the value of the lost or reduced pension benefits; there isn’t a fixed cap or a multiple of the loss. So the maximum redress is exactly the actual loss of benefit under the scheme concerned. The other options imply fixed monetary caps or multiples, which do not apply here.

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